Gift tax
This query is : Open
Anurag Kedia
(Querist)
23 July 2015
Sir, If a immovable property is received by a unregistered society as a gift by a unregistered trust, then in that case what are the tax obligation on society under section 56(2)(vii)
Rupesh Jain
(Expert)
23 July 2015
in case of recipient its applicable to individual or huf not on other .
CA Aneesh Jain
(Expert)
23 July 2015
It will be taxable as section 56(2)vii is applicable on individual and huf only.
Anurag Kedia
(Querist)
23 July 2015
Thank for the kind reply but as society is not treated as individual in that case we can avoid gift tax
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
